In an effort to expand its wealth management business, UMB Financial Corp. announced Wednesday it signed a definitive agreement to buy Prairie Capital Management LLC, an independent asset management and wealth management firm in based in Kansas City, Mo.

Prairie, which has offices in Kansas City, Denver, Chicago and Philadelphia, operates a national asset and wealth management business that serves high net worth private clients, family offices, trusts, foundations and endowments, corporations and plan sponsors. It uses a multi-manager approach on an open architecture platform.

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